Shared
Ownership

Buying with shared ownership could be the step onto the property ladder you’ve been looking for. According to Home.co.uk, the average asking rent for a two-bedroom property in York is £1,616 per calendar month*. With shared ownership, your outgoings could be £1,173 a month when buying a 2-bedroom property at Cocoa Gardens. Prices from £118,650 based on a 35% share of £339,000 full purchase price.

This example demonstrates a potential outgoing saving of £443 a month, for your first step on the property ladder.

Day-to-day running costs may also be lower with new-build homes. They require less maintenance and tend to be more energy-efficient than existing homes, meaning lower energy bills.

Monthly shared ownership example is based on the combined cost of:

Mortgage monthly payment when purchasing the minimum 35% share of a two-bedroom property at Cocoa Gardens based on a full market value of £339,000 with a 5% minimum deposit and five-year fixed rate mortgage of 5.14%. Monthly rent calculated on 2.75% annual cost of the remaining share value. The on-site team will be confirm the monthly service charge cost. Mortgage rates are indicative only. Mortgage arrangement fees, deposit and moving costs are not included in outgoings total.

* Average rent within YO31 postcode based on Home.co.uk market rent summary, June 2024.

We are pleased to offer a selection of homes at Cocoa Gardens on a shared ownership basis. Buyers purchase a share of the property (from a minimum of 35%) and then pay rent on the remaining share. This makes shared ownership a fantastic way for first-time buyers to reduce the amount required for a deposit.

This could save you up to £443 per month based on renting a property in York

With shared ownership (also known as part-buy, part-rent) you buy a share of a property.

You’re required to buy the maximum share size you can afford between 10-75%. Then on the remaining share you pay a subsidised rent. You can then increase your share up to 100% and outright ownership whenever suits you.

Buying a share in a property, rather than buying it outright, means you need a smaller deposit and mortgage. This makes shared ownership an affordable route into home ownership.

Once you’ve bought, you can increase your share in your home whenever you want – all the way up to owning it 100%. And you can sell at any time making shared ownership a great way to invest in your future.

For further information, please register your interest and a team member will be in touch